and they all rank high in that strategy, you start to capture them through one of your webs.

and they all rank high in that strategy you start to capture them through one of your webs


we've had nice pipeline contribution and then closings from those pipelines in every other market


right away in the pulp agglomeration. It has about an 8-hour retention time, and we get those kind of extraction rates.

right away in the pulp agglomeration it has about an 8-hour retention time and we get those kind of extraction rates


While we have more work to do, we are very pleased with the progress we made on each of these fronts in the first quarter.

while we have more work to do we are very pleased with the progress we made on each of these fronts in the first quarter


Fourth, we believe we have further margin improvements available through our automation process

fourth we believe we have further margin improvement available through our automation process


requested by existing clients as compared to services related to new Q4 client wins.

requested by existing clients as compared to services related to new q4 client wins


and agility across the company in the same way we've accomplished it in our product and inventory initiatives.


it's good to see growth in usage of the fleet, and you see a significant growth

it's good to see growth in usage of the fleet and you see a significant growth


I think after 5 years of leadership for the cochlear implant business being -- sitting here in Switzerland,

i think after 5 years of leadership for the cochlear implant business being sitting here in switzerland


relatively old stock loans where, as I said, we have undertaken all necessary steps to recover.

relatively old stock loans where as i said we have undertaken all necessary steps to recover


We believe the results will be better economies of scale, greater consistency across brands

we believe the results will be better economies of scale greater consistency across brands


to really take advantage of our very powerful retail model going forward.


This is a delicate issue. I can say yes, we will or no, we won't

this is a delicate issue i can say yes we will or no we won't


To date, no child in the study who has had a finding of anything other than absent

to date no child in the study who has had a finding of anything other than absent


So we are the only ones in the industry to have this, and we're probably years away from anybody else in the industry.

so we are the only ones in the industry to have this and we're probably years away from anybody else in the industry


And so with that in mind, I think how I would see it is

and so with that in mind i think how i would see it is the


So can you just kind of update us on where you stand with your Boeing and Airbus contracts and how you're approaching that going forward?

so can you just kind of update us on where you stand with your boeing and airbus contracts and how you're approaching that going forward


in '15, and got margins back to kind of that mid-teens level, which is where we've historically guided the business. As a matter of fact,

in '15 and got margins back to kind of that mid-teens level which is where we've historically guided the business as a matter of fact


we're lining our pockets with inexpensive stock because we know that there's going to be something really, really positive.

we're lining our pockets with inexpensive stock because we know that there's going to be something really really positive


and used the proceeds to make a capital contribution to Essent Re to support the ongoing growth of our Bermuda business.

and use the proceeds to make a capital contribution to essentri to support the ongoing growth of our bermuda business


Thank you. Thanks to all of our investors for joining today. Thank you once again for your past and future support of the company.

thank you thanks to all of our investors for joining us today thank you once again for your past and future support of the company


We're pleased to report another record quarter results, driven by strength in both our business segments.

we're pleased to report another record quarter result driven by strength in both our business segments


that the company may not be able to fully offset the result -- the effect on earnings, considering the short transition period.

that the company may not be able to fully offset the result -- the effect on earnings considering the short transition period


of trying to capture those opportunities, it's just going to take time. So I think the bottom line answer is that

trying to capture those opportunities it's just going to take time so i think the bottom line answer is that


life is good. And if life was a little bit better, they would capture more sales and be able to go leverage the cost that we have there.

life is good and if life was a little bit better they would capture more sales and be able to go leverage the cost that we have there


So a bit too early to really see whether it's all according to plan or whether it is 1 or 2 weeks longer, as it sometime

so a bit too early to really see whether it's all according to plan or whether it is 1 or 2 weeks longer as it sometimes


So please be advised to review our reconciliation and related disclosures in our release at the end of our slides.

so please be advised to review our reconciliation and related disclosures in our release and at the end of our slides


and strength relative to comparable basis weight TAD kitchen towel products while maintaining standards for feel.

and strength relative to comparable basis weight tab kitchen tile products while maintaining standards for feel


moving along very nicely in the background as well. And then rest of the world, not a large part of the business

moving along very nicely in the background as well and then rest of the world not a large part of the business


In July, we signed a contract with the successor to Parkside to complete the remaining concrete superstructure work

in july we signed a contract with the successor to parkside to complete the remaining concrete superstructure work


That really reflects the fact that we've got a very efficient financing structure in place.

that really reflects the fact that we've got a very efficient financing structure in place


either the second quarter revenue or the first half revenue, however you prefer to characterize it. And then

either the second quarter revenue or the first half revenue however you prefer to characterize it and then


The only thing I would add is based on the commodity groupings that make up the bulk of the material cost for the products that we produce,

yes the only thing i would add is based on the commodity groupings that make up the bulk of the material cost for the products that we produce


I think one of the really interesting things here is that a lot of the things that we've been working on in the residential standby market

i think one of the really interesting things here is that a lot of the things that we've been working on in the residential standby market


having a bigger impact on certain national accounts where they have bigger footprint in those areas of the country


Over the last several weeks, however, we have seen log takeaway increase and return to more normalized levels.

over the last several weeks however we have seen log takeaway increase and return to more normalized levels


This investment is particularly important now when the number of biologic drugs in development is increasing.

this investment is particularly important now when the number of biologic drugs in development is increasing


Their tenacity revealed the existence of these high-contaminant labs in almost every state.

their tenacity revealed the existence of these high-contaminant labs in almost every state


My comparisons to fourth quarter 2017 amounts have been adjusted to exclude the impact of the settlement.

my comparisons to fourth quarter 2017 amounts have been adjusted to exclude the impact of the settlement


And what essentially will happen is, the income tax expense will only relate to the TRS side of the business

and what essentially will happen is the income tax expense will only relate to the trs side of the business


From the operations and trading perspective, the legacy get go and night systems were essentially unaware of each other.

from an operations and trading perspective the legacy getco and knight systems were essentially unaware of each other


On a strategic note, we have long looked for ways to effectively enter the rapidly growing market of Latin America,

on a strategic note we have long looked for ways to effectively enter the rapidly growing market of latin america


And then there are a lesser percentage of that, that do that on an ongoing annual basis.

and then there are a lesser percentage of that that do that on an ongoing annual basis


So with that, I was going to switch back to Dave to talk about our outlook for the balance of the year.

so with that i was going to switch back to dave to talk about our outlook for the balance of the year


This is at the bottom of the target range, set to minimize the cost of capital for the group.

this is at the bottom of the target range set to minimize the cost of capital for the group


What they chose to do was negotiate a settlement with the harshest findings that the FTC has ever had against a pyramid scheme,

what they chose to do was negotiate a settlement with the harshest findings that the ftc has ever had against a pyramid scheme


The key elements of that include a limitation on compensation paid to distributors. So

the key elements of that include a limitation on compensation paid to distributors so


That reporting unit is impacted by lower print volumes. And we would expect to see that to continue,

that reporting unit is impacted by lower print volumes and we would expect to see that to continue


This concludes my review of the financial and operational results. Next, I'll cover a few outlook items.

this concludes my review of the financial and operational results next i'll cover a few outlook items


And we could see margins move around during the course of the year as we look at different types of mix.

and we could see margins move around during the course of the year as we look at different types of mix


those opportunities, as we begin to commit to those opportunities, you can bet we will help you understand them.

those opportunities as we begin to commit to those opportunities you can bet we will help you understand them


I think there is also a lot of other productivity-type initiatives that

i think there is also a lot of other productivity-type initiatives that


I'm just curious, how does the Greenhill's mandate differ from that of your prior advisor?

i'm just curious how does greenhill's mandate differ from that of your prior adviser


These patients have a very high mortality rate, and can have significant morbidity as a result of renal damage.

these patients have a very high mortality rate and can have significant morbidity as a result of renal damage


our initial wells down there. And once we see what the GOR trends are across our position, we'll be able to

our initial wells down there and once we see what the gor trends are across our position we'll be able to


We continue to be pleased with the strength of our balance sheet and our ability to generate the cash we need to expand our global footprint.

we continue to be pleased with the strength of our balance sheet and our ability to generate the cash we need to expand our global footprint


Gross margin realized in the period and over the remaining term of the contract will be impacted by the changes

gross margin realized in the period and over the remaining term of the contract will be impacted by the changes


flipping over a plan, correct? So we are generally not being asked to build smaller blades or generally always larger blades.

flipping over a plant correct so we're generally not being asked to build smaller blades they're generally always larger blades


To see such a strong growth in this area on top of the strong growth we saw last year, is particularly heartening

to see such strong growth in this area on top of the strong growth we saw last year is particularly heartening


And I think it's going to be somewhat hit and miss across that territory. I think the upside

and i think it's going to be somewhat hit and miss across that territory i think the upside


More importantly, the term structure of the market is allowing those who have space to earn above-average returns on that space.

more importantly the term structure of the market is allowing those who have space to earn above average returns on that space


is we'll have the debt cleared to have it not be interrupted as we go into summer driving

is we'll have the deck cleared to have it not be interrupted as we go into summer driving


Finally, we are building our capabilities to manage populations with intellectual and developmental disabilities.

finally we are building our capabilities to manage populations with intellectual and developmental disabilities


On Page 5, we have laid out some of my initial observations, priorities and outlook for the

on page 5 we have laid out some of my initial observations priorities and outlook for the year


that it can't last, obviously, too much longer, but I think we need to be prepared for a couple of quarters

that it can't last obviously too much longer but i think we need to be prepared for a couple of quarters


going to these markets through disciplined restocking. They've been the 2 markets that have benefited the most

going to these markets through disciplined restocking they've been the 2 markets that have benefited the most


We're trying very hard to get adoption rate quicker. We're doing all kinds of training, seminars.

we're trying very hard to get adoption rate quicker we're doing all kinds of training seminars


I would conclude our standard presentation with this

i would conclude our standard presentation with this


can you imagine to transport a container for the cost of a taxi ride? It's absolutely unrealistic.

can you imagine to transport a container for the cost of a taxi ride it's absolutely unrealistic


Government policy in the key importing countries is prioritizing gas over coal and nuclear fuels.

government policy in the key importing countries is prioritizing gas over coal and nuclear fuels


But at this point in time, I think this is the right way to think about the numbers. And again, our approach has been to be

but at this point in time i think this is the right way to think about the numbers and again our approach has been to be


have you seen increased volumes related to their large acquisition? And if not, do you still expect to in a meaningful way?

have you seen increased volumes related to their large acquisition and if not do you still expect to in a meaningful way


or for this year, we do not anticipate any significant change

or for this year we do not anticipate any significant change


underlying resource that is a tailwind for our business that you have not seen


to provide larger and more comprehensive capital solutions to our borrowers than TCPC could pursue on its own.

to provide larger and more comprehensive capital solutions to our borrowers than tcpc could pursue on its own


that catalog will have my competitors' products in it. It will allow me to sit on top or around

that catalog will have my competitors' products in it it will allow me to sit on top or around


On a combined basis, our sales and margin development contributed to a constant currency increase

on a combined basis our sales and margin development contributed to a constant currency increase


In any case, as we look at the large leasing companies, there's a lot of change, and we intend to pursue opportunities that will enhance shareholder's value.

in any case as we look at the large leasing companies there's a lot of change and we intend to pursue opportunities that will enhance shareholders' value


Across both civilian and defense agencies, we see significant opportunity for a wide spectrum of our service offerings,

across both civilian and defense agencies we see significant opportunity for a wide spectrum of our service offerings


Second, our network of producers and customers is second to none, in each of these basins and markets.

second our network of producers and customers is second to none in each of these basins and markets


We view this as a very positive development and believe that it validates the financial strength we continue to prioritize mainly.

we view this as a very positive development and believe that it validates the financial strength we continue to prioritize in link


I don't think we've been through all of it in the agency space, which is kind of just a little more than half of sec lending.

i don't think we've been through all of it in the agency space which is kind of just a little more than half of sec lending


So all of these products are not products that are swapping in and out of our existing patient base.

so all of these products are not products that are swapping in and out of our existing patient base


We are confident that we have the processes, controls and key employees in place to remain in compliance as we move forward.

we are confident that we have the processes controls and key employees in place to remain in compliance as we move forward


lots of opportunities we have put a few of the foundation pieces in place with IT, but

lots of opportunities we have to put a few of the foundation pieces in place with it but


And then, we'll replace our tractors when they're 5 years old and purchase tractors to support our growth in key markets where it makes sense.

and then we'll replace our tractors when they're 5 years old and purchase tractors to support our growth in key markets where it makes sense


But in addition to that, we're going to have a fuel price decline next year. So it's set up very well.

but in addition to that we're going to have a fuel price decline next year so it's set up very well


to affect the model change in Brazil from a distributor to a licensee. Excluding this change,

to affect the model change in brazil from a distributor to a licensee excluding this change


We are also expanding local production capabilities throughout the region to reduce cost and to shorten lead times.

we are also expanding local production capabilities throughout the region to reduce cost and to shorten lead times


So, principally the facility is ready to go and it's really just about adding direct labor at this point.

so principally the facility is ready to go and it's really just about adding direct labor at this point


we would ask you to refrain from asking questions regarding these issues or regarding the company's restated carve-out financials


We are driving strong organic revenue growth, growing brands and audiences, improving sales execution,

we are driving strong organic revenue growth growing brands and audiences improving sales execution


So really, we agreed to sell our share to that joint venture. I think it's a good outcome for both parties because

so really we agreed to sell our share to that joint venture i think it's a good outcome for both parties because


Adjusted income from continuing operations exclude several items from GAAP income from continuing operations.

adjusted income from continuing operations excludes several items from gaap income from continuing operations


Forward-looking statements include statements that are not historical in nature and include information concerning our future results or plans.

forward-looking statements include statements that are not historical in nature and include information concerning our future results or plans


Part of that was incorporated within the restructuring charge activities, and some of it was just

part of that was incorporated within the restructuring charge activities and some of it was just


part number mix that we're supplying and customer mix inside those major product lines. And I really didn't

part number mix that we're supplying and customer mix inside those major product lines and i really didn't


We've also recently focused a lot of time and energy on our installation and setting material product assortment.

we've also recently focused a lot of time and energy on our installation and setting material product assortment


participated in the feasibility studies and was instrumental in the negotiations with the government.


This is very important not only in the short run, but we are generally able to retain the customer for the long run.

this is very important not only in the short run but we are generally able to retain the customer for the long run


We have continued to extend our geographic reach and expand our program management and network planning services.

we have continued to extend our geographic reach and expand our program management and network planning services


which continues to offset much of the impact on our profitability from the weak pricing environment.


they're providing the best possible consumer value propositions and the best possible consumer experiences. So to the degree that

they're providing the best possible consumer value propositions and the best possible consumer experiences so to the degree that


The pace of the recovery in our industry accelerated in the fourth quarter and has remained strong through January.

the pace of the recovery in our industry accelerated in the fourth quarter and has remained strong through january


Margins are product related. So you have to look at potential, improving

margins are product related so you have to look at potential improving


Thank you. Ladies and gentlemen, this concludes today's conference. Thank you for participating, and you may now disconnect.

thank you ladies and gentlemen this concludes today's conference thank you for participating and you may now disconnect


Both rebounded a bit on in the fourth quarter, a bit stronger performance in the Middle East and in Africa

both rebounded a bit in the fourth quarter a bit stronger performance in the middle east than in africa


Continuing strong cash generation and the resulting deleveraging has given the board confidence

continuing strong cash generation and the resulting deleveraging has given the board confidence


We then leverage our Postmedia partnership to get our brand out in front of millions of Canadians at a scale that perhaps only the big banks can match.

we then leverage our post media partnership to get our brand out in front of millions of canadians at a scale that perhaps only the big banks can match


Let me see if I can help you understand some moving pieces under that. We are definitely improving

let me see if i can help you understand some moving pieces under that we are definitely improving


By now, you're probably sick of hearing me say that the size of our network has more than tripled from just 1 year ago,

by now you're probably sick of hearing me say that the size of our network has more than tripled from just 1 year ago


We achieved a number of important objectives over the last 12 months. I would like to highlight 2 in particular.

we achieved a number of important objectives over the last 12 months i would like to highlight 2 in particular


drug treatment facilities as well as licensed law enforcement. Currently, about half of our MedSafes are deployed

drug treatment facilities as well as licensed law enforcement currently about half of our medsais are deployed


And whether it be media or for commerce, we will strive for further growth.

and whether it be media or for commerce we will strive for further growth


Your insights, advice and constructive criticism have always been a great help to me and the board.

your insights advice and constructive criticism have always been a great help to me and the board


maybe you could comment on how that experience so far shapes your view on the potential for biosimilars for Merck from an offensive standpoint.

maybe you could comment on how that experience so far shapes your view on the potential for biosimilars from eric from an offensive standpoint


Now for our company, in terms of the batteries, it belongs to LG Chem. We're not going to

now for our company in terms of the batteries it belongs to lg chem we're not going to


I will refrain from any references to the past because I don't think that's, in this case,

i will refrain from any references to the past because i don't think that's in this case


levels of activity, performance, goals or achievements or any other future events or development.

levels of activity performance goals or achievements or any other future events or developments


for example, maybe some insurance companies are going to be difficult to deal with? They're

for example maybe some insurance companies are going to be difficult to deal with


that we have to adhere to and they have to here to. But I think our progress is good, and so I don't see a change in

that we have to adhere to and they have to adhere to but i think our progress is good and so i don't see a change in the


are the net result of a mature Content Services business with approximately 30% project base revenues

are the net result of a mature content services business with approximately 30% project-based revenues


The focus is on continuing to improve flow of goods, delivery models, transportation, and handling cost.

the focus is on continuing to improve flow of goods delivery models transportation and handling cost


Similar to Lloyd's, our International Specialty segment continues to experience challenging market conditions.

similar to lloyd's our international specialty segment continues to experience challenging market conditions


That speed, insight and level of transparency is unparalleled in our industry.

that speed to insight and level of transparency is unparalleled in our industry


This excludes dilution from the NOVADAQ acquisition that Glenn will cover in his section.

this excludes dilution from the novadak acquisition that glen will cover in his section


Exactly. But you're still going to keep the kind of leverage -- or what is the target leverage range that you want to kind of see flexing around?

exactly but you're still going to keep the kind of leverage or what is the target leverage range that you want to kind of see fluxing around


And then in terms of the royalty rate, we've said previously that we expect

and then in terms of the royalty rate we've said previously that we expect


And we haven't given exact guidance on this, but you could imagine that this is at least an order of a log

and we haven't given exact guidance on this but you could imagine that this is at least an order of a log


When it comes to stamp prices, we're more or less in the middle of what we see

when it comes to stem prices we're more or less in the middle of what we see


new business that we've won, things have even improved for us when we did this deal originally with Sinotruk. So there are

the new business that we've won things have even improved for us when we did this deal originally with sinotruck so there are


So far, the response that we're getting from people that we've shown this to has been very high.

so far the response that we're getting from people that we've shown this to has been very high


And I'm proud to say in spite of the fact that we have added, as you know, last year, thousands more connections

and i'm proud to say in spite of the fact that we have added as you know last year thousands more connections


I would not expect more than the 90 basis points in the second half. If you look back

i would not expect more than the 90 basis points in the second half if you look back


and complexity rationalization program in the beginning of the year and this is a long-term program for us. So it was not a

and complexity rationalization program in the beginning of the year and this is a long-term program for us so it was not a


Just trying to get a sense of one-offs that we should anticipate in the first combined year of the show early next year.

just trying to get a sense of one-offs that we should anticipate in the first combined year of the show early next year


First, by definition to receive a Breakthrough Therapy Designation, there must be preliminary clinical evidence

first by definition to receive a breakthrough therapy designation there must be preliminary clinical evidence


and that we are cautiously optimistic about the future. Even if we were coming against a strong comparison base,

and that we are cautiously optimistic about the future even if we were coming against a strong comparison base


With that, I'm not at all trying to indicate that there no longer is an issue. We all know that we need to work through litigation.

with that i'm not at all trying to indicate that there no longer is an issue we all know that we need to work through litigation


I believe it is important to focus on results over activity, to hold people accountable and to be stewards of our business.

i believe it is important to focus on results over activity to hold people accountable and to be stewards of our business


And I'm consistent in my belief of strong fundamentals for Zinc and expect Zinc prices will remain strong in the near future.

and i'm consistent in my belief of strong fundamentals for zinc and expect zinc pricing to remain strong in the near future


mainly due to the negative impact of a change in revenue associated with sales volume and model mix.


with past practice. Having said that, as we do more of these strategic account deals,

with past practice having said that as we do more of these strategic account deals


have you seen any surprises one way or the other? Do you think it's starting to get reflected

have you seen any surprises one way or the other do you think it's starting to get reflected


We estimate these sites represent more than 1,600 patients who would be potentially eligible

we estimate these sites represent more than 1 600 patients who would be potentially eligible


We look forward to continuing our discussions with the agency to finalize the protocol and initiating the trial later this year.

we look forward to continuing our discussion with the agency to finalize the protocol and initiating the trial later this year


compared to the prior year period. The increase was primarily driven by the favorable impact of retail price increases

compared to the prior year period the increase was primarily driven by the favorable impact of retail price increases


The operations and manufacturing teams did a tremendous job completing the projects on time and on cost.

the operations and manufacturing teams did a tremendous job completing the projects on time and on cost


schedule and the current schedule. So you can see in the upper part of the graph that we eliminated most

schedule and the current schedule so you can see in the upper part of the graph that we eliminated most


Ladies and gentlemen, thank you for standing by,

ladies and gentlemen thank you for standing by


for us, is very, very crucial because it is a new wave

for us is very very crucial because it is a new wave


Both projects are a part of the major works that New York City Transit continues to undertake

both projects are a part of the major works that new york city transit continues to undertake


As it is, there are 30 well locations that have been identified to form part of that asset development plan,

as it is there are 30 well locations that have been identified to form part of that asset development plan


a challenge in terms of the commercial terms, but the development is ready to go, both from an oil and gas perspective.

a challenge in terms of the commercial terms but the development is ready to go both from an oil and gas perspective


Business is difficult to say because it all depends on the full relationship that you have. But on the consumer advertised price,

businesses is difficult to say because it all depends on the full relationship that you have but on the consumer advertised price


increase, but we are capturing a significant portion of that increase every time it happens.

increase but we are capturing a significant portion of that increase every time it happens


until that happens. And then to the extent that does happen and then there'll be a return of capital,

until that happens and then to the extent that does happen and then there'll be a return on capital


and the generation of royalty income on energy assets held in our proprietary investments.


the resurgence of economic growth and some of the regulatory environment is driving logistics inflation specific to this market.


There's clearly much work to be done, but I like the progress that has been made and look forward to the team driving toward continued traction.

there's clearly much work to be done but i like the progress that has been made and look forward to the team driving toward continued traction


key things that need to happen in the next 2 quarters of '16 to keep you on track for your '17 plan?

key things that need to happen in the next 2 quarters of '16 to keep you on track for your '17 plans


Right. And I think I recall at some earlier time that the company had discussed owning,

right and i think i recall at some earlier time that the company had discussed owning


I could have added less the project. So as Jim mentioned in his remarks and my comment,

i could have added less the projects so as jim mentioned in his remarks and my comments


and may not be based on historical information. The forward-looking statements are based on management's current expectations and beliefs.

and may not be based on historical information the forward-looking statements are based on management's current expectations and beliefs


so the comparison is somewhat difficult. Nevertheless, Leasing was strong in both years. One other thing to consider,

so the comparison is somewhat difficult nevertheless leasing was strong in both years one other thing to consider


minimally invasive surgery department to kind of an essential part of the portfolio. And as that happens, I think more and more

minimally invasive surgery department to a kind of an essential part of the portfolio and as that happens i think more and more


So we have goals that we're going to set in the next couple of months about what those costings can be but they're going to really be a byproduct of

so we have goals that we're going to set in the next couple of months about what those costings can be but they're going to really be a byproduct of


even with the mortgage business being slightly down. But when you get to the absolute levels of pipeline,

even with the mortgage business being slightly down but when you get to the absolute levels of pipeline


And again, we see the evidence that sustainability is increasingly a long-term driver of growth.

and again we see the evidence that sustainability is increasingly a long-term driver of growth


We're going to accelerate capital investments to add manufacturing capacity and make our operations more efficient.

we're going to accelerate capital investments to add manufacturing capacity and make our operations more efficient


to have a lot of emails contacts these days, but this is almost like a bit of a surprise.

tends to have a lot of e-mail contacts these days but this is almost like a bit of a surprise


and together we are defining our new culture that will build upon and blend our strong heritages.


the cadence of tailwinds that your business has from the ramp of recent product launches and


Most of this increase is due to spending for our fifth e-commerce fulfillment center, which is scheduled to open next year.

most of this increase is due to spending for our fifth e-commerce fulfillment center which is scheduled to open next year


On Power Systems, again, growth across both of its core revenue streams of OE and services

on power systems again growth across both of its core revenue streams of oe and services


Our capital ratios remain well in excess of both regulatory measures and internal policy levels,

our capital ratios remain well in excess of both regulatory measures and internal policy levels


It was classified as a serious adverse event and was successfully treated. As a result and as expected

it was classified as a serious adverse event and was successfully treated as a result and as expected


as our first product launch into that existing enzyme market is moving very nicely toward commercialization.


Activity in our industrial business is being driven by a number of new product developments we are working on.

activity in our industrial business is being driven by a number of new product developments we're working on


And diluted shares may fluctuate due to both share repurchases and the dilutive effect from the outstanding warrants.

and diluted shares may fluctuate due to both share repurchases and the dilutive effect from the outstanding warrants


In summary, we delivered strong earnings per share and maintained profitability in a volatile environment.

in summary we delivered strong earnings per share and maintained profitability in a volatile environment


I will tell you going -- thinking about last fourth quarter and go 2 years ago and 3 years ago,

i will tell you going -- thinking about last fourth quarter and go 2 years ago and 3 years ago


Any investment required to comply with the Clean Power Plan would be incremental to our current CapEx plan.

any investment required to comply with the clean power plan would be incremental to our current capex plan


while maintaining the conservative character of our investment program to the fullest extent possible.


These in silico tools amount largely to educated guesswork based on assumptions

these in silico tools amount largely to educated guesswork based on assumptions


but it intuitively makes sense that they should complement each other because it has been shown


tried to answer a similar question before by saying, with the improved identification

tried to answer a similar question before by saying with the improved identification


It is also estimated that over 70% of women will develop the Candida infection during their reproductive lifetimes.

it is also estimated that over 70% of women will develop a candida infection during their reproductive lifetimes


changing reporting relationships or not being able to rely as much on in-person conversations to execute responsibilities.


I think one thing that really caught me is a big positive is that they're back to being able to export some equipment offshore.

i think one thing that really caught me as a big positive is that they're back to being able to export some equipment offshore


That's why the recovery is coming slowly and not immediately visible in the profitability.

that's why the recovery is coming slowly and not immediately visible in the profitability


Once that's established with the color solutions portfolio, not only will we be backward integrated

once that's established with the color solutions portfolio not only will we be backward integrated


We are pleased that Sinopharm remains strongly supportive of our relationship and our business.

we are pleased that sinopharm remains strongly supportive of our relationship and our business


Most of this interaction tends to be the source of confusion and dissatisfaction for the patient.

most of this interaction tends to be the source of confusion and dissatisfaction for the patient


Here, you can see the results of our strong underwriting discipline as there are only 3 loans delinquent greater than 90 days

here you can see the results of our strong underwriting discipline as there are only 3 loans delinquent greater than 90 days


But the real benefit of having a platform like hydrogel is that it has so many potential applications.

but the real benefit of having a platform like hydrogel is that it has so many potential applications


you can adjust, if needed, if you're not going to see maybe some of the fee or the loan growth targets there that you've laid out?

you can adjust if needed if you're not going to see maybe some of the fee or the loan growth targets there that you've laid out


Link Square in Shanghai also managed to deliver extraordinary growth in a competitive market

ling square in shanghai also managed to deliver extraordinary growth in a competitive market


for decades and decades and decades. And I think, this is why

for decades and decades and decades and i think this is why


The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.

the conference has now concluded thank you for attending today's presentation you may now disconnect


and a large part of that was just some promotional activity that didn't play out the way that we thought we would.


so that the revenue that we have foregone in selective origination is more than compensated for in credit losses.

so that the revenue that we have forgone in selective origination is more than compensated for in credit losses


These record results are inclusive of some isolated challenges we encountered with On Time Express,

these record results are inclusive of some isolated challenges we encountered with on-time express


Today's release and conference call both contain non-GAAP financial measures that exclude the impact of certain business events.

today's release and conference call both contain non-gaap financial measures that exclude the impact of certain business events


Our billing system conversion in the Northeast Division is also well underway, with expected completion later this year.

our billing system conversion in the northeast division is also well underway with expected completion later this year


and is poised to fuel growth over the long term. And we're off to an exceptional start this year

and is poised to fuel growth over the long term and we're off to an exceptional start this year


that momentum. But is there anything else in there in terms of mix, whether it be

that momentum but is there anything else in there in terms of mix whether it be


in the second quarter and the third quarter and will into the fourth quarter of really balancing the health of our assortment.


and that we did not believe that stock market trading liquidity would be enhanced by dual listing.


These increases were partially offset by a 4% decline in loads from durable goods customers.

these increases were partially offset by a 4% decline in loads from durable goods customers


This comes from more and more people being exposed to the C Series' in-service performance,

this comes from more and more people being exposed to the c series and service performance


Our customers spend more and more time in our app to check balances, make transfers, pay bills, apply for products,

our customers spend more and more time in our app to check balances make transfers pay bills apply for products


Another requirement for the submission is to have safety and efficacy data

another requirement for the submission is to have safety and efficacy data


In some respects, the hardest work is behind us, but now we've got to come in and make it all work.

in some respects the hardest work is behind us but now we got to come in and make it all work


no occupancy headwind or tailwind, I think that's probably a good guide long term in terms of how to think about top line.

no occupancy headwind or tailwind i think that's probably a good guide long term in terms of how to think about top line


And as we have always indicated, we'll have a substantial haulage cost to the fringe of our served market.

and as we have always indicated we'll have a substantial haulage cost to the fringe of our served market


While foreign exchange rates are less favorable than in 2015, they remain very advantageous.

while foreign exchange rates are less favorable than in 2015 they remain very advantageous


and be able to actually activate marketing decisions and marketing plans based upon


If the market does not give you the appropriate value

if the market does not give you the appropriate value


lines of our financial statement, starting with the operating income on the rental segment.

lines of our financial statement starting with the operating income on the rental segment


The fact that green was declining was probably coffee was probably a good space to play in during that period of time.

the fact that green was declining was probably coffee was probably a good space to play in during that period of time


into our other New Orleans manufacturing plants by the end of the calendar year.

into our other new orleans manufacturing plants by the end of the calendar year


For Pillsbury, persistent competitive activity and soft category performance continued to impact top line trends.

for pillsbury persistent competitive activity and soft category performance continued to impact top line trends


what happened during the first day was that the name ban was lifted on the 7 individuals


a -- entering these new markets has been part of that plan. The truth is, is we are very small in every market that we're in.

entering these new markets has been part of that plan the truth is is we are very small in every market that we're in


For a no-fee card including a credit card, that is higher than any other card in Canada for no fees,

for a no-fee card including a credit card that is higher than any other card in canada for no fees


Wafer thinning for fan out packaging requires both high selectivity and a fast etch rate.

wafer thinning for fan-out packaging requires both high selectivity and a fast etch rate


and on the previous call, we are slightly more optimistic about these emerging markets moving forward in aggregate.

and on the previous call we are slightly more optimistic about these emerging markets moving forward in aggregate


and I think the industry is stretched to be able to do those, and an excessive amount of overtime

and i think the industry is stretched to be able to do those an excessive amount of over time


many years ago in the North Sea, for us, in Norway and then spread across the company and served as the foundation

many years ago in the north sea for us in norway and then spread across the company and then served as the foundation


And what we've done is because of the increasing volumes and interests in quality and additional

and what we've done is because of the increasing volumes and interests in quality and additional


Our expanded and comprehensive portfolios will provide us with additional opportunities for enterprise contracts.

our expanded and comprehensive portfolios will provide us with additional opportunities for enterprise contracts


Important to remember that our first quarter is historically a seasonally low quarter for absorption.

important to remember that our first quarter is historically a seasonally low quarter for absorption


and we began the relaunch of Stride late in the quarter, which should improve shares in the months ahead.

and we began the relaunch of stride late in the quarter which should improve shares in the months ahead


So this is based on our analysis of what could occur from the potential legislation.

so this is based on our analysis of what could occur from the potential legislation


with the commercial activity of Bankinter continues growing. The negative impact

with the commercial activity of bancinter continues growing the negative impact


And before I go through those different offerings, I want to go back a step and remind you how we even get here.

and before i go through those different offerings i want to go back a step and remind you how do we even get here


The operating expenses of the group have reduced through continued strong cost management.

the operating expenses of the group have reduced through continued strong cost management


had any refinements in terms of your thinking on promotional programs. As I recall about a year ago, you had some very

had any refinements in terms of your thinking on promotional programs as i recall about a year ago you had some very


and utilize that pad drilling. So areas where we have water infrastructure in place, areas where pads have maybe not been reclaimed,

and utilize that pad drilling so areas where we have water infrastructure in place areas where pads have maybe not been reclaimed


We control at the end of the day, the agency and the client relationship directly, and we control the inventory.

we control at the end of the day the agency and the client relationship directly and we control the inventory


We have many opportunities to drive efficiencies in the business, and we have the right leadership team in place to leverage operating discipline built by Modine

there are many opportunities to drive efficiencies in the business and we have the right leadership team in place to leverage the operating discipline built by modine


We continue to see a high level of global activity relating to electric vehicle in the automotive specialty truck and bus markets.

we continue to see a high level of global activity relating to electric vehicle in the automotive specialty truck and bus markets


Data from other countries and our own experience indicate social investments reduce health care costs,

data from other countries and our own experience indicate social investments reduce healthcare costs


So it is -- it led to him not spending and it led to Clinton not thinking she needed to spend.

so it is -- it led to him not spending and it led to clinton not thinking she needed to spend


I know that customer relationships tend to be very sticky in the industry. And I was just wondering if

i know that customer relationships tend to be very sticky in the industry and i was just wondering if


But again, when you dig into the leases that we're signing, the redevelopments that they're setting up,

but again when you dig into the leases that we're signing the redevelopments that they're setting up


on the work that we're doing currently with the local communities and the authorities in Peru

on the work that we're doing currently with the local communities and the authorities in peru as well


challenge, and we have a number of great projects going forward here, developing new applications that'll help in the long term.

challenge and we have a number of great projects going forward here developing new applications that will help in the long term


The nature of the relationship that could be maintained between the entities is certainly an important part that we want to understand what the bookends are. So we'll

the nature of the relationship that could be maintained between the entities is certainly an important part that we want to understand what the bookends are so we'll


and we are hopeful that we will resolve a meaningful amount of these change orders and claims by the end of the year


You touched on this to some degree on the prepared remarks around the Pixel, but how are the conversations going now?

you touched on this to some degree on the prepared remarks but around the pixel but how are the conversations going now


and were down slightly by approximately 1% for the same period, primarily as a result of continued weakness in the Canadian dollar.

and were down slightly by approximately 1% for the same period primarily as a result of continued weakness in the canadian dollar


not that it's easy to price the risk, but I don't think the premium for a commercial loan or the risk that goes along with a commercial loan

not that it's easy to price to risk but i don't think the premium for a commercial loan or the risk that goes along with a commercial loan


This is in contrast to what we know about long-term olanzapine use where weight gain may continue for many months and years.

this is in contrast to what we know about long-term lanthanum use where weight gain may continue for many months and years


In addition, base prices have dropped by a few discount points due to a heavy influx of import products.

in addition base prices have dropped by a few discount points due to a heavy influx of import products


in the secular shift away from cash and checks to electronic payments?


I encourage you to review these reports for the full details, but I will touch on 5 highlights here.

i encourage you to review these reports for the full details but i will touch on 5 highlights here


And the best is to be prepared for that and especially situations in downturns,

and the best is to be prepared for that and especially situations in downturns


will be positive but not material, mainly in our DECISION division.

will be positive but not material mainly in our decision division


These 2 trials are now proceeding in parallel and actively enrolling patients.

these 2 trials are now proceeding in parallel and actively enrolling patients


higher hedged fuel prices and marketing on both of the new ships will restrict the profit growth


the message is just that we're looking to be maybe more flexible in terms of the way in which we construct the insurer arrangements. And

the message is just that we are looking to be maybe more flexible in terms of the way in which we construct the insurer arrangements


general and administrative expenses, partially offset by an increase in salaries and benefits.

general and administrative expenses partially offset by an increase in salaries and benefits


pretty clearly, deployment services is not a big part of international, but the attached services are.

pretty clearly deployment services is not a big part of international but the attach services are


meaningful improvement in the contractual market. And what I would remind you of is that we saw negative rates

meaningful improvement in the contractual market and what i would remind you of is that we saw negative rates


Therefore, there may be a limited comparability of future CapEx to historical CapEx results as it relates to Swift.

therefore there may be limited comparability of future capex to historical capex results as it relates to swift


I -- we didn't drop was much to the bottom line this fourth quarter as we normally would have liked to have.

i -- we didn't drop as much to the bottom line this fourth quarter as we normally would have liked to have


So I shared this with you in the previous results meeting as well. But going forward,

so i shared this with you in the previous results meeting as well but going forward


that I'm fully reassured quite yet. And the reason I say that is I regard volatility adjuster,

that i'm fully reassured quite yet and the reason i say that is i regard volatility adjuster


And as for your question on the duration, I do not think it would be that long.

and as for your question on the duration i do not think it will be that long


you can see that after nine months, we have basically doubled the customer base and we still have

you can see that after 9 months we have basically doubled the customer base and we still have


over the last 10 weeks is the quality of the design capability that we have within the company.


with the balance of the decline being attributable to the higher pension cost and the impact of translation,


Looking forward, we will remain focused on executing on our launches and driving the performance of our strongest brands

looking forward we will remain focused on executing on our launches and driving the performance of our strongest brands


And so now we would like to take questions that we have received online.

and so now we would like to take questions that we have received online


to amalgamate that information. And you compare it against the original amount of revenue that was recorded.

to amalgamate that information and you compare it against the original amount of revenue that was recorded


I think you will agree that represents a significant increase in value for our business and for shareholders.

i think you will agree that represents a significant increase in value for our business and for shareholders


Our international contracts are relatively new and are mostly for specialized drilling,

our international contracts are relatively new and are mostly for specialized drilling


Half of the increase was really an adjustment that reduced fourth quarter costs.

half of the increase was really an adjustment that reduced fourth quarter costs


Ladies and gentlemen, thank you for your participation in today's conference. This concludes the program, and you may now disconnect. Everyone

ladies and gentlemen thank you for your participation in today's conference this concludes the program and you may now disconnect everyone


These encouraging signs of new activity leads us to believe that the bottom of this down turn is behind us.

these encouraging signs of new activity leads us to believe that the bottom of this downturn is behind us


This starts to demonstrate the progress on our objective to improve the group's revenue performance through the period of the Growth Acceleration Plan.

this starts to demonstrate the progress on our objective to improve the group's revenue performance through the period of the growth acceleration plan


new NOVOS control system across all these rigs. We have a fantastic capability in terms of being machine automation

novos control system across all these rigs we have a fantastic capability in terms of bringing machine automation


Our teams are focused on delivering productivity, while we continue to invest in expanding coverage and launching new products.

our teams are focused on delivering productivity while we continue to invest in expanding coverage and launching new products


with the State of California that we've been selected to build and it will come out in task orders.

with the state of california that we've been selected to build and it will come out in task orders


With that, let's discuss our outlook and some additional assumptions that guide our view.

with that let's discuss our outlook and some additional assumptions that guide our view


As another example, we continue to see a compelling opportunity in the insurance sector for customized solutions.

as another example we continue to see a compelling opportunity in the insurance sector for customized solutions


Also thanks to the differentiation in the offer we are building and the coverage of the different needs,

also thanks to the differentiation in the offer we are building and the coverage of the different needs


For the first half of 2018, we have increased gross and operating margins by over 200 basis points

for the first half of 2018 we have increased gross and operating margins by over 200 basis points


acquisition or integration costs would be excluded from that number?


as we believe that it is very important that the rating agencies, the investors and the community of research analysts

as we believe that it is very important that the rating agencies the investors and the community of research analysts


the Asian Exploration and also the renovated Pad Thai? It seems like particularly on the Asian Exploration, it's more

the asian exploration and also the renovated pad thai it seems like particularly on the asian exploration it's more


You will notice that U.S. tax reform did not have a net impact on earnings per common share during the quarter.

you will notice that u s tax reform did not have a net impact on earnings per common share during the quarter


of the drug benefit that it's on and the amount of money that's spent over the course of time


However, time and again, we have reiterated that we are not dependent on any single market to drive our future growth.

however time and again we have reiterated that we are not dependent on any single market to drive our future growth


When everybody spends all the effort on developing new products,

when everybody spends all the effort on developing new products


And on a personal note, I couldn't be more excited about the opportunities that lie ahead for our company.

and on a personal note i couldn't be more excited about the opportunities that lie ahead for our company


No. The lawyer's going to say did you supervise to see that the contract that you had in place

no the lawyer is going to say did you supervise to see that the contract that you had in place


I want to make sure that I heard correctly. You're talking about some of the new product introductions that you have out there,

i want to make sure that i heard correctly you're talking about some of the new product introductions that you have out there


Was distribution up? I'd say probably the one that I'm a little bit more cautious on -- 2 of them would be

was distribution up i'd say probably the one that i'm a little bit more cautious on 2 of them would be


I think at the moment, we do not have any indication for further acceleration.

i think at the moment we do not have any indication for further acceleration


This was primarily due to the positive impact from the introduction of brand new and fully remodeled automobiles,

this was primarily due to the positive impact from the introduction of brand new and fully remodeled automobiles


In conjunction with these commission plan changes and in furtherance of our focus on recurring revenue,

in conjunction with these commission plan changes and in furtherance of our focus on recurring revenue


Because we had already established a ecosystem of partners over the last few years

because we had already established ecosystem of partners over the last few years


We provided you with a sensitivity analysis so you can see the magnitude of the benefit with stock price fluctuations.

we provided you with a sensitivity analysis so you can see the magnitude of the benefit with stock price fluctuations


Our innovation efforts are targeted at the ongoing transformation of the construction, agriculture and transportation industries,

our innovation efforts are targeted at the ongoing transformation of the construction agriculture and transportation industries


our team across the globe continues to identify new opportunities to add value to our existing customers


as well as the impact of stranded costs. We are tracking to our plan to reduce our home office expenses.

as well as the impact of stranded costs we are tracking to our plan to reduce our home office expenses


benefiting from expansions in Houston and Edmonton that we brought online and from additions to our Jones Act tanker fleet.

benefiting from expansions in houston and edmonton that we brought online and from additions to our jones act tanker fleet


was to be repaid from upfront and first year payments from new partnering agreements over the next 4 years.


But together, that team are working on how we make sure we've got absolutely the right people. We

but together that team are working on how we make sure we've got absolutely the right people


Our conversations had historically been weighted down by a complex business model that read more like a Chinese menu.

our conversations had historically been weighted down by a complex business model that read more like a chinese menu


Capital investment is going to play an important role in Morinaga's future growth.

capital investment is going to play an important role in morinaga's future growth


And as you can see, none of the major competing products has a particularly high market share.

and as you can see none of the major competing products has a particularly high market share


the result of this quarter has been burdened with a provision, which in our opinion, should

the result of this quarter has been burdened with a provision which in our opinion should


we've been able to improve our results. Even though we have had

we've been able to improve our results even though we have had


After factoring in the first 3 weeks of February that contributed to the Spring Rush,

after factoring in the first 3 weeks of february that contributed to the spring rush


Weather and the impact it has on heating demand will continue to be the biggest driver of our retail propane segment.

weather and the impact it has on heating demand will continue to be the biggest driver of our retail propane segment


and over half of our end market exposure is related to industrial applications.


However, we expect oil and gas revenue will decline in the second half of the year, albeit at a slower rate than in the first half.

however we expect oil and gas revenue will decline in the second half of the year albeit at a slower rate than in the first half


to help drive growth momentum in areas with the strongest profitability, and we feel good about our new business mix.

to help drive growth momentum in areas with the strongest profitability and we feel good about our new business mix


We are typically able to bring real value to our clients in a matter of weeks and sometimes days

we are typically able to bring real value to our clients in a matter of weeks and sometimes days


This impacted several key metrics very positively, including merchandise margin for the fourth quarter,

this impacted several key metrics very positively including merchandise margin for the fourth quarter


use, so that we can automate some of these inspections that are costing us a lot of time and effort

into use so that we can automate some of these inspections that are costing us a lot of time and effort


if you take the organic and the bolt-on, which is normally the growth rate we would have reported historically

if you take the organic and the bolt-on which is normally the growth rate we would have reported historically


Despite the revenue decline, we experienced sequential improvement in our trading activity relative to overall market-wide trading

despite the revenue decline we experienced sequential improvement in our trading activity relative to overall market-wide trading


This body of work will be critical to guiding our future investments, both organic and inorganic.

this body of work will be critical to guiding our future investments both organic and inorganic


So we feel very good about this maturity curve and the fact that it hasn't really shifted

so we feel very good about this maturity curve and the fact that it hasn't really shifted


As such, we expect manageable credit costs, while much of the provision for credit losses will cover the incremental loan growth.

as such we expect manageable credit costs while much of the provision for credit losses will cover the incremental loan growth


we've got about -- if I remember right, 40% of our loans kind of in the near term are impacted by the change in rate.

we've got about if i remember right 40% of our loans kind of in the near term are impacted by the change in rate


Although, Gauteng bakeries recorded volume and profit growth, competition in the coastal regions intensified,

although chao teng bakeries recorded volume and profit growth competition in the coastal regions intensified


That model has generated engagement 8x higher than average depending on the specific device used

that model has generated engagement 8x higher than average depending on the specific device used


represent a continuation as we've messaged throughout this segment of customers, sort of in that middle

represent a continuation as we've messaged throughout this segment of customers sort of in that middle


We will also be building a sales function that has focused roles, including sales operation and inside sales functions.

we will also be building a sales function that has focused roles including sales operations and inside sales functions


We sought to make decisions that would balance our existing revenue while also planning for the future state of our operating model.

we sought to make decisions that would balance our existing revenue while also planning for the future state of our operating model


we see a similar development where Europe and Asia has been strong, America

we see a similar development where europe and asia has been strong america


we have achieved the level of market penetration we need to build a profitable and self-sustaining business.


Our momentum continues on a positive trajectory, and we continue to prepare for the future.

our momentum continues on a positive trajectory and we continue to prepare for the future


business that those products might generate as being something where you've identified a need


N for nausea that we launched during the most recent quarter that continues to do well and is very successful

n for nausea that we launched during the most recent quarter that continues to do well and is very successful


please review the reports and documents filed from time to time by Bridgeline Digital with the Securities and Exchange Commission.

please review the reports and documents filed from time to time by bridgeline digital with the securities and exchange commission


So that's where the optionality clearly exists when you get in the outer years of this plan, assuming we execute and deliver

so that sort of optionality clearly exists when you get in the outer years of this plan assuming we execute and deliver


a large asset retirement obligation associated with your Germany acquisition. So I was just wondering if you'd give me a sense of

a large asset retirement obligation associated with your germany acquisition so i was just wondering if you'd give me a sense of


And so now you've got the same amount of liquor stores competing for less business with less people,

and so now you've got the santa monica liquor stores competing for less business with less people


we have experienced increased end-market pressures in certain parts of our defense and adjacent markets.

we have experienced increased end market pressures in certain parts of our defense and adjacent markets


as well as large-scale gathering systems previously located within our central operating area.


for the parties which with -- with which we had discussions. We were attractive on many fronts.

for the parties with which we had discussions we were attractive on many fronts


and then equally at the midpoint of our prior communications. Again, I would stress on a contracted basis, not assuming

and then equally at the midpoint of our prior communications again i would stress on a contracted basis not assuming


We also provide firefighting and other utility services in Alaska, which tend to be much more active in the warmer months.

we also provide firefighting and other utility services in alaska which tend to be much more active in the warmer months


At the present time, we are continuing to work with MSHA to develop a plan that will allow for extraction of the longwall equipment from the current panel,

at the present time we're continuing to work with emsha to develop a plan that will allow for extraction of the longwall equipment from the current panel


which we believe is the lowest underground cost per ton across any portfolio in the Eastern United States.

which we believe is the lowest underground cost per ton across any portfolio in the eastern united states


Based on the feedback we receive at that FDA meeting as well as data from additional manufacturing runs,

based on the feedback we received at that fda meeting as well as data from additional manufacturing runs


As we have expanded our commercial footprint in our expanding our penetration beyond the initial contract win,

as we have expanded our commercial footprint and are expanding our penetration beyond the initial contract wins


So the capacity of that factory probably is

so the capacity of that factory probably is


So we're quite confident that we made a very good decision in bringing that inside.

so we're quite confident that we made a very good decision in bringing that inside


it is extremely broad-based because it is transformative at the industry level and practically, a

it is extremely broad-based because it is transformative at the industry level and it's practically


Organic growth is expected to be driven by improving trends in our RMS and Discovery businesses,

organic growth is expected to be driven by improving trends in our rms and discovery businesses


half of the space that we originally finished, so I suppose

half of the space that we originally finished so i suppose


During this conference call, we may refer to adjusted EBITDA, adjusted earnings per share and free cash flow.

during this conference call we may refer to adjusted ebitda adjusted earnings per share and free cash flow


when you have a firm that has its fixed cost base under control and I think we

when you have a firm that has its fixed cost base under control and i think we


Our results for Q3 are in the press release. And as you can see this quarter in particular was a bit messy

our results for q3 are in the press release and as you can see this quarter in particular was a bit messy


Yes, it's a great question, I think the thing that's most striking about the results which I was very excited about was

yes that's a great question i mean i think the thing that's most striking about the results which i was very excited about was


I also think that E3, for those of you that will go to E3, you'll see some excitement around some of the games that we have that will help to

i also think at e3 for those of you that will go to e3 you'll see some of the excitement around some of the games that we have that will help to


I want to thank everyone for taking your time to attend the call today. Have a great day.

i want to thank everyone for taking your time to attend the call today have a great day


These MSOs have recently increased their spending on Alpha's power systems and services as part of their network upgrades

these msos have recently increased their spending on alphas power systems and services as part of their network upgrades


Higher volume and pricing only partially offset the impact of higher lead costs on the margin percentage.

higher volume and pricing only partially offset the impact of higher lead costs on the margin percentage


not very good data in terms of market share outside of funds. But on an overall basis, we feel like

not very good data in terms of market share outside of funds but on an overall basis we feel like


I will begin by providing a simple explanation of 3 external factors that we are facing.

i will begin by providing a simple explanation of 3 external factors that we are facing


the growth in our revenues. So again, we do see progression as we leverage on those revenues going forward.

the growth in our revenues so again we do see progression as we leverage on those revenues going forward


There is a competitive advantage, in our opinion. We do believe, and it's certainly not surprising that the entire world

so there is a competitive advantage in our opinion we do believe and it's certainly not surprising that the entire world


was kind of -- from your changes in terms of your approach to kind of to loss given default there was a

there was a kind of -- from your changes in terms of your approach to kind of loss given default there was a


in past years. I've been heavily focused on it since I got here. So every day, we're looking at how we

in past years i've been heavily focused on it since i got here so every day we're looking at how we


obviously helping to understand sort of what's going to happen and how that range is going to be narrowed is something that we have signed on, and I'll let Eric take that.

obviously helping you understand sort of what's going to happen and how that range is going to be narrowed is something that we've sent simon and i'll let eric take that


That said, when taken together, assessing the likelihood that the customers will act on their needs remains in question.

that said when taken together assessing the likelihood that the customers will act on their needs remains in question


In 2018, we plan to invest aggressively in driving strong performance of our key products,

in 2018 we plan to invest aggressively in driving strong performance of our key products


driving increases in all of our key lines of business, bolstered by the investments we have made in new summer activities.

driving increases in all of our key lines of business bolstered by the investments we have made in new summer activities


clearly that, that run up to the holiday and that softness right after the holiday correlate pretty closely to the weather we saw.

clearly that run up to the holiday and that softness right after the holiday correlated pretty closely to the weather we saw


and I would like to take a moment to thank our teammates across the organization for their hard work and dedication to our customers.

and i would like to take a moment to thank our teammates across the organization for their hard work and dedication to our customers


in the first quarter, anything specific -- I know it's early in the year and it's a small quarter, but

in the first quarter anything specific i know it's early in the year and it's a small quarter but


This growth in market share is consistent with the trend we have witnessed for several years and is, in part,

this growth in market share is consistent with the trend we've witnessed for several years and is in part


And I think that relationship, that collaboration has been a key to the success that we've been able to achieve.

and i think that relationship that collaboration has been a key to success that we've been able to achieve


our solutions takes into account the new rate levels in the market and the tight capacity

solution scaling takes into account the new rate levels in the market and the tight capacity


and our local indigenous populations and corporations that are so critical for our success.


In addition to driving results in our Legacy Conagra Brands business, we completed the acquisition of Pinnacle Foods.

in addition to driving results in our legacy conagra brands business we completed the acquisition of pinnacle foods


And there's absolutely no incentive, by the way, for our reps today to bring in multiple years in advance from a customer.

and there's absolutely no incentive by the way for our reps today to bring in multiple years in advance from a customer


How should we think about what are the things that you would be applying very uniquely based on your eBay and

how should we think about what are the things that you would be applying very uniquely based on your ebay and


This is not to imply that they are not recurring, as the vast majority of these revenue streams are stable, recurring and growing.

this is not to imply that they are not recurring as the vast majority of these revenue streams are stable recurring and growing


In the south of the country, we have made further market share gains with additional awards of IDS contracts.

in the south of the country we have made further market share gains with additional awards of ids contracts


And through that entire process, we got tremendous support not only from legislators, politicians

and through that entire process we got tremendous support not only from legislators politicians


look at their outlooks and look at their leverage statistics and focus their efforts on generating cash.


We've tried to design our comp plans to have our sales team meet the customer whatever they want to buy from us.

we've tried to design our comp plans to have our sales team meet the customer with how they want to buy from us


where we were clear in saying that we thought it was good for the Danish society

where we were clear in saying that we thought it was good for the danish society


So I do believe, Liana, that the RemoPro product delivered through our Unity system

so i do believe fani liana that the remopro product delivered through our unity system


The sale of this fleet equipment is part of our approach to managing and optimizing the size and mix of our rental fleet,

the sale of this fleet equipment is part of our approach to managing and optimizing the size and mix of our rental fleet


The meeting was very productive, and we were pleased with the high level of engagement and diligence of the FDA staff.

the meeting was very productive and we were pleased with the high level of engagement and diligence of the fda staff


We see more opportunity and potential in the decade ahead than even the one we have just completed.

we see more opportunity and potential in the decade ahead than even the one we have just completed


And we will look different again 5 years from now as we continue to evolve at an accelerated pace.

and we will look different again 5 years from now as we continue to evolve at an accelerated pace


We operate in highly competitive markets, and we intend to differentiate our properties, primarily in the basis of community design,

we operate in highly competitive markets and we attempt to differentiate our properties primarily on the basis of community design


We ran our first promotion at these more aggressive, promoted price points and saw a noticeable improvement in January.

we ran our first promotion at these more aggressive promoted price points and saw noticeable improvement in january


Well, again as we said, we're generally optimistic for the whole year. I think national is

well again as we said we're generally optimistic for the whole year i think national is


Some broadcasters are -- might start a little earlier than us, and so they can finish up

some broadcasters are -- might start a little earlier than us so they can finish up


Well, I think that's what we're doing in this culling exercise, where it's not so much a segment

well i think that's what we're doing in this culling exercise where it's not so much a segment


you could probably take that off the transmission system so that it would enable that sort of tension people have about long distances to be removed.

you could probably take that off the transmission system so that it would enable that sort of tension people have about long distances to be relieved


conference do you think? Or would you expect it to be sustained at a higher level in coming quarters?

conference do you think or would you expect it to be sustained at a higher level in coming quarters


to basically say, yes, I can move to software, which affects the top line, but we think

to basically say yes i can move to software which affects the top line but we think


let's meet in February, when we do the full-year review of what we will have achieved

let's meet in february when we do the full year review of what we will have achieved


It's not that we're not investing on the Swiss platform, but we started with the front application. You may have seen in '16 we rolled out

it's not that we're not investing on the swiss platform but we started with the front application you may have seen in '16 we rolled out


All of those things are starting to deliver now. So in terms of what is sustainable, I would say

all of those things are starting to deliver now so in terms of what is sustainable i would say


We believe that capability-led deals and carve-outs are likely the most interesting acquisition opportunities for Mercury.

we believe that capability-led deals and carve-outs are likely the most interesting acquisition opportunities for mercury


I think the approach we took of creating the strategic data platform, which links the multiple disparate systems we have in the interim basis,

i think the approach we took of creating the strategic data platform which links the multiple disparate systems we have in the interim basis


So there's been a huge focused effort on integrating instruments, in particular, with the RFS business that utilizes a lot of them.

so there's been a huge focused effort on integrating instruments in particular with the rfs business that utilizes a lot of them


Let's take a closer look at our execution in 2018 and our 2019 focus within each of these pillars.

let's take a closer look at our execution in 2018 and our 2019 focus within each of these pillars


how much total acceptance we get in the marketplace because we've put some pretty aggressive price increases out there.

how much total acceptance we get in the marketplace because we put some pretty aggressive price increases out there


And the retail benefits from those same locational and upgrading tenant

and the retail benefits from those same locational and upgraded tenant


on rate resets and floating-rate payments, as well as our higher other income that was driven by a pickup in equity income

on rate resets and floating rate payments as well as our higher other income that was driven by a pickup in equity income


we did see and continue to see our large claim activity continuing to come down.


and investing in systems and tools that we believe will help us to improve our inventory turns over time.


we've looked at a lot of books, and we just haven't found something that we feel comfortable with. And

we've looked at a lot of books and we just have found something that we feel comfortable with and


We will begin the call with brief opening remarks from Dave, Garrett and Blake, and then, be ready to take your questions.

we will begin the call with brief opening remarks from dave garrett and blake and then be ready to take your questions


a stronger position in. We are working on interesting acquisition, including in countries where we have no operation

a stronger position in we are working on interesting acquisition including in countries where we have no operation


period of time to get through over 100 client contracts has just taken longer than we

period of time to get through over 100 client contracts it's just taking longer than we


we can -- and also we have products by the way, new products that are being launched outside our current

we can -- and also we have products by the way new products that are being launched outside our current


Both SimonsVoss and AXA performed well in the quarter and are delivering on the expected results.

both simon's vaux and axa performed well in the quarter and are delivering on the expected results


We expect to start shipping for the first of the 1,100 homes in the fourth quarter

we expect to start shipping for the first of the 1 100 homes in the fourth quarter


It is important to note that the implementation of this change is not going to happen overnight.

and it's important to note that the implementation of this change is not going to happen overnight


You would also think that, given how this is all playing out and not really working out very well for anyone,

you'd also think that given how this is all playing out and not really working out very well for anyone


As a reminder, all accepted ASH abstracts will be announced and available online this coming Thursday.

as a reminder all accepted ash abstracts will be announced and available online this coming thursday


So we would look at the current sort of comparative therapies and the other MDS drugs that are out there

so we would look at the current sort of competitive therapies and the other mds drugs that are out there


The decrease in revenue in petroleum additives in the quarterly comparison was mainly driven by lower volumes and price

the decrease in revenue in petroleum additives in the quarterly comparison was mainly driven by lower volumes and price


and we are currently in discussions with Goldman to increase the size of that facility as well as to reduce our interest rates. I

and we are currently in discussions with goldman to increase the size of that facility as well as to reduce our interest rates


okay, what is the situation and how do I optimize my remaining dollars to get the best economic recovery

okay what is the situation and how do i optimize my remaining dollars to get the best economic recovery


some being written about them throttling back production in some regions for environmental and seasonal reasons,


to Mercer's proprietary investment manager research, opening up a new distribution outlet for Mercer.

to mercer's proprietary investment manager research opening up a new distribution outlet for mercer


stuff is printed up, we're ready to go and we're very excited to get out there and actually start talking to some restaurant operators.

stuff's printed up we're ready to go and we're very excited to get out there and actually start talking to some restaurant operators


specially given the backdrop of consumers looking for more convenient digital solutions, we think Mogo is really well positioned to take advantage of that.

especially given the backdrop of consumers looking for more convenient digital solutions we think mogo is really well positioned to take advantage of that


Currencies were again a burden for us in the third quarter, but to a lesser extent than in the previous quarters.

currencies were again a burden for us in the third quarter but to a lesser extent than in the previous quarters


Now finally, with respect to realizations. While volatility can make for more difficult execution,

now finally with respect to realizations while volatility can make for more difficult execution


impacted by that. They know what their costs are. They know where they can save costs. They know what their customers want

impacted by that they know what their costs are they know where they can save costs they know what their customers want


is the smart connection technology that allows them to do that. So we're very excited about that move. Keith is very excited about that move.

is the smart connection technology that allows them to do that so we're very excited about that move keith is very excited about that move


Our equity portfolio benefited from those market trends mentioned earlier. And also driving returns

our equity portfolio benefited from those market trends mentioned earlier and also driving returns


some additional color across all the metrics and that's one of them. I think we also provided more color around some of the balance sheet items.

some additional color across all the metrics and that's one of them i think we also provided more color around some of the balance sheet items


So what I did was go through in further detail

so what i did was go through in further detail


These marketing initiatives combined with the ongoing improvements in the customer experience and improved digital ordering channels

these marketing initiatives combined with the ongoing improvements in the customer experience and improved digital ordering channels


The effects of numerous macroeconomic challenges and structural market factors, which have contributed

the effects of numerous macroeconomic challenges and structural market factors which have contributed


and counting on the improved revenue drivers and to be much more back on target


which is cigalites, but drops off as the consumer moves through what we call the product continuum.

which is cigalite but drops off as the consumer moves through what we call the product continuum


And the money that we were spending in Global E-Commerce that gave us very little return will be able to realigned to

and the money that we were spending in global e-commerce gave us very little return we'll be able to be realigned and profitable


And looking at quality of production rather than just -- production for the sake of production.

and looking at quality of production rather than just production for the sake of production


So if we see demand increasing as we hope that we will, that breakeven number may move a little bit

so if we see demand increasing as we hope that we will that breakeven number may move a little bit


There have been no changes to the forecast for either Ubiquitous Solutions or Device Solutions.

there have been no changes to the forecast for either ubiquitous solutions or device solutions


mentioned this in his remarks, we continue to be encouraged by the opportunities we have in the

mentioned this in his remarks we continue to be encouraged by the opportunities we have in the


has not been paid, leading to that adjustment of the capitalized part of the earn-out.

have not been paid leading to that adjustment of the capitalized part of the earnout


We were able to leverage that growing technical expertise, financial capabilities and our track record

we were able to leverage that growing technical expertise financial capabilities and our track record


on various products along with production capacity discipline and price increases in raw materials.


Our focus on core deposits has paid off, with deposit growth exceeding loan growth.

our focus on core deposits has paid off with deposit growth exceeding loan growth


as there appears to be an insatiable demand for additional motors and tools as scarcity builds despite a plateauing rig count.


part of the market that's not contracted. We still haven't collected on our July

part of the market that's not contracted we still haven't collected on our july


We just kind of see how we can work down the pressure pumping costs, but I can tell you that today

we'll just kind of see how we can work down the pressure pumping costs but i can tell you that to date


So adidas is moving forward. Let me now give you a strategic update on where the company is.

so areas is moving forward let me now give you a strategic update on where the company is


drop off because they don't pay their premiums, and you've got people who are qualifying through the special enrollment period.

drop off because they don't pay their premiums and you've got people who are qualifying through the special enrollment period


We believe that eventual and slow hikes might begin at some point during the first or second quarter of next year.

we believe that eventual and slow hikes might begin at some point during the first or second quarter of next year


As far as the final adoption of this decree, after an 18-month period of adjustment, which starts now

as far as the final adoption of this decree after an 18-month period of adjustment which starts now


partly it's a result of our efforts to focus on profitability that growth of our commercial loan portfolio continued to be sluggish.

partly it's a result of our efforts to focus on profitability the growth of our commercial loan portfolio continued to be sluggish


That is what this organization was built on, and that is what everyone here strives for each and every day. With that, I'll turn it over to Steve.

that is what this organization was built on and that is what everyone here strives for each and every day with that i'll turn it over to steve


And is that a requirement that you see to accomplish in '17 to position yourself for that '18 growth?

and is that a requirement that you see to accomplish in '17 to position yourself for that '18 growth


Do you anticipate it staying at the relative same strength that you saw in the first half?

do you anticipate it staying at the relative same strength that you saw in the first half


For these reasons, we encourage you to evaluate gross profit on an annual or trailing 12-month basis.

for these reasons we encourage you to evaluate gross profit on an annual or trailing 12-month basis


competitors and warding off competitors? As for behavior of vendors,

competitors and warding off competitors as for behavior of vendors


money in that range. So we have 2 things that we need to weigh.

money in that range so we have 2 things that we need to weigh


Okay. So just to clarify, those are basically the same doors that you had talked about previously.

okay so just to clarify those are basically the same doors that you talked about previously


Good morning, my name is Mike, and I will be your conference operator today.

good morning my name is mike and i will be your conference operator today


but it's our ability to find new sources of other income that can grow to that. But there's nothing

but it's our ability to find new sources of other income that can grow to that but there's nothing


we still strive for certainty and stability for all stakeholders in a declining market, and that means that

we still strive for certainty and stability for all stakeholders in a declining market and that means that


testing the idea out in the field and showing it off at trade shows and what have you,


way better than expectation, obviously not all of them, but that gives us hope that we can get there.

way better than expectation obviously not all of them but that gives us hope that we can get there


for which settlement is not able to be reached or that are in excess of the maximum claim amounts under our master settlement agreements.


down the line. We would just have to always consider that, and I think you would expect that from us as normal course. So

down the line we would just have to always consider that and i think you would expect that from us as normal course so


how long do you think it would take for you to expand those margins to average levels?


All products suffered from lower client activity and lower market volumes, including the knock-on impact

all products suffered from lower client activity and lower market volumes including the knock-on impact


And then can you possibly quantify the savings potential from these actions even if it's on kind of a broad basis?

and then can you possibly quantify the savings potential from these actions even if it's on kind of a broad basis


and also implement our sales in the Alarms and technology now that there's no any limitation to the import of those devices.

and also increment our sales in alarms and technology now that there's no any limitation to the import of those devices


This can be attributed to the high order backlog in Germany and Poland and the extremely good weather in this region.

this can be attributed to the high order backlog in germany and poland and extremely good weather in this region


And we see a very bright future ahead. We're expanding engagements with current and new customers

and we see a very bright future ahead we're expanding engagements with current and new customers


from an improved pricing and channel mix were more than offset by the severe negative currency effects.


Thank you, Michelle. Thank you for joining the call this afternoon to discuss the company's third quarter financial results.

thank you michelle thank you for joining the call this afternoon to discuss the company's third quarter financial results


burden. But beyond that, I think there is no reason to expect any differences. We are pressing ahead

burden but beyond that i think there is no reason to expect any differences we are pressing ahead